Supply Chain Undergrads

Currency exchange is a volatile factor affecting global companies and challenging their supply chain practices. Parts may be manufactured overseas in a country where their currency grows stronger, increasing costs for the company after contracts have already been made. Final products that are manufactured in a country with a weaker currency, may find that international sales actually boost their bottom line. Just in the past few years, North American companies have reported billions of dollars in negative currency impacts and currency-related losses.

Packaging goods for exports is a risky endeavor.  Understanding how the package will be handled throughout the exporting process is of paramount importance to the satisfaction of the end consumer. Overseas relationships are extremely valuable when trying to grow a company; therefore, the packaging process plays a vital role in building foreign relations.  If the package is damaged or not delivered on time regardless of the distance it is traveling, a company will still be left with a dissatisfied customer or end consumer.  Customer satisfaction has become one of the main focuses of logistics teams throughout the planning process (David, 2018). Companies must package their products durable to withstand weather or rough handling that might occur en route to the next destination. Robust packaging techniques ensure orders arrive at the right place at the right time in the right quantity.  Packaging is another unique challenge for companies seeking to become linked to the global supply chain networks that move products around the world every day.

With a special guest 

Our podcast subject is Incoterms. The text describes Incoterms as a series of eleven standardized rules of trade, created by the International Chamber of Commerce, and are used in all documents in an international transaction. The most recent revision to the Incoterms was in 2020 although the book reviews 2010 revisions.

Companies want to capitalize on the opportunities presented in foreign markets in order to maximize their competitive advantage, but there are five different methods of entry utilized.